113 S Edgemont Street

    Los Angeles (City), CA 90004
    • $1,599,999
    • STATUS: Active
    • ON SITE: 236 days
    • ID#: DW19230363
    UPDATED: 15 min ago
    $1,599,999
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,274
      SQFT
    • $374
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1933
    County:

    School Ratings & Info

    Description

    GREAT OPPORTUNITY AND INVESTMENT IN KOREATOWN!!! R-3 ZONING!!! RIGHT IN THE HEART OF LOS ANGELES!!! THIS CASH-FLOWING, TAX-SHELTERING, CASH-FLOWING, CASH-ON-CASH RETURNING PROPERTY HAS THE ABILITY TO BUILD ADDITIONAL UNITS. BORDERED BY SILVER LAKE AND ECHO PARK. "JUST" BLOCKS AND WALKING DISTANCE AWAY TO WILSHIRE CENTER, WILSHIRE AND WESTERN, BUS / TRAINS / SUBWAY STATIONS, ETC. THIS INCOME PROPERTY IS HAS A TERRIFIC UPSIDE POTENTIAL, FANTASTIC RATES OF RETURN WITH A 3.31% CAP RATE (POTENTIAL FOR 5.00%), AND 24.51% GROSS RENT MULTIPLIER (POTENTIAL FOR 14.00%) FOR THE AREA -- TONS OF ROOM FOR GROWTH!!! PRICED TO SELL. LOTS OF UPSIDE IN RENTS ($61,200.00 IN GROSS INCOME AND DUE FOR ANNUAL INCREASE). POTENTIAL RENTS ARE $96,000 to $192,000 ANNUALLY. TONS OF GENTRIFICATION HAPPENING IN THE AREA. LARGE SIZE FOR THE AREA -- OVER 4,274 SQ.FT. OF LIVING SPACE, 4 CAR GARAGES (2 CARS FOR EACH UNIT) AND MORE. JUST UNDER $351K/SQ.FT. THIS PROPERTY HAS THE POTENTIAL TO BUILD MULTIPLE MORE UNITS WORTH OF INCOME (ZONED R-3). THIS PROPERTY MAINTAINS TWO(2) 3 BEDROOM AND 2 BATHROOMS. TONS OF POTENTIAL. LOTS OF ROOM FOR PARKING AND FOR BUILDING. PERFECT PROPERTY FOR SOMEONE TO LIVE AND RENT THE OTHERS AND BUILD MORE AS THEY GO! LOTS OF UPSIDE!!! GREAT OPPORTUNITY TO 1031 INTO!!! THIS IS A GROWING MARKET WITH LOTS OF GROWTH!!! DON'T WAIT BEFORE IT'S TOO LATE!!! DO NOT MISS THIS GOLDEN OPPORTUNITY!!! *** Buyer(s) and their agents are to determine the accuracy of the information provided ***

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-26T23:25:46.507. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

    www.sdluxe.com/homes/99550710

    113 S Edgemont Street Los Angeles (City), CA 90004

    • Price: $1,599,999
    • Status: Active
    • Updated: 15 min ago
    • ID#: DW19230363
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    4,274
    SQFT
    $374
    $/SQFT
    1933
    Built
    Neighborhood:
    KREA - Koreatown
    County:
    Los Angeles
    Area:
    KREA - Koreatown
    Property Description
    GREAT OPPORTUNITY AND INVESTMENT IN KOREATOWN!!! R-3 ZONING!!! RIGHT IN THE HEART OF LOS ANGELES!!! THIS CASH-FLOWING, TAX-SHELTERING, CASH-FLOWING, CASH-ON-CASH RETURNING PROPERTY HAS THE ABILITY TO BUILD ADDITIONAL UNITS. BORDERED BY SILVER LAKE AND ECHO PARK. "JUST" BLOCKS AND WALKING DISTANCE AWAY TO WILSHIRE CENTER, WILSHIRE AND WESTERN, BUS / TRAINS / SUBWAY STATIONS, ETC. THIS INCOME PROPERTY IS HAS A TERRIFIC UPSIDE POTENTIAL, FANTASTIC RATES OF RETURN WITH A 3.31% CAP RATE (POTENTIAL FOR 5.00%), AND 24.51% GROSS RENT MULTIPLIER (POTENTIAL FOR 14.00%) FOR THE AREA -- TONS OF ROOM FOR GROWTH!!! PRICED TO SELL. LOTS OF UPSIDE IN RENTS ($61,200.00 IN GROSS INCOME AND DUE FOR ANNUAL INCREASE). POTENTIAL RENTS ARE $96,000 to $192,000 ANNUALLY. TONS OF GENTRIFICATION HAPPENING IN THE AREA. LARGE SIZE FOR THE AREA -- OVER 4,274 SQ.FT. OF LIVING SPACE, 4 CAR GARAGES (2 CARS FOR EACH UNIT) AND MORE. JUST UNDER $351K/SQ.FT. THIS PROPERTY HAS THE POTENTIAL TO BUILD MULTIPLE MORE UNITS WORTH OF INCOME (ZONED R-3). THIS PROPERTY MAINTAINS TWO(2) 3 BEDROOM AND 2 BATHROOMS. TONS OF POTENTIAL. LOTS OF ROOM FOR PARKING AND FOR BUILDING. PERFECT PROPERTY FOR SOMEONE TO LIVE AND RENT THE OTHERS AND BUILD MORE AS THEY GO! LOTS OF UPSIDE!!! GREAT OPPORTUNITY TO 1031 INTO!!! THIS IS A GROWING MARKET WITH LOTS OF GROWTH!!! DON'T WAIT BEFORE IT'S TOO LATE!!! DO NOT MISS THIS GOLDEN OPPORTUNITY!!! *** Buyer(s) and their agents are to determine the accuracy of the information provided ***
    Exterior Features

    Architectural Style Modern Direction Faces East Entry Level 1 Entry Location 1 Exterior Features Awning(S)Rain Gutters Fence YN Yes Fencing BlockWood Garage Spaces 4.00 Lot Features Front YardLawnLevelPark NearbyYard Lot Size Dimensions 55X105 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Driveway - CombinationGarage Parking Total 6.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type MaintainedPaved Roof Composition Spa Features None Spa YN No View Neighborhood View YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Flooring TileWood Heating Central Heating YN Yes Interior Features Balcony Laundry Features Inside Levels Two Room Type Living Room

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cable Tv Expense 0.00 Cap Rate 3.31 Community Features CurbsParkSidewalksSuburbanUrban Country Us Electric Expense 0.00 Elevation Units Feet Exclusions Any And All Property Determined To Be Personal. Fuel Expense 0.00 Furniture Replacement Expense 0.00 Garage Income 0.00 Garage Rental Rate 0.00 Gardener Expense 0.00 Gross Income 61200.00 Gross Multiplier 24.51 Gross Operating Income 61200.00 Gross Scheduled Income 61200.00 Gross Spendable Income 49630.00 Improvements Amount 231193 Improvements Percent 31.87 Insurance Expense 1300.00 Land Lease YN No Land Value 494276 Land Value Percent 68.13 Laundry Income 0.00 Laundry YN Yes Licenses Expense 0.00 Maintenance Expense 0.00 Maintenance Percent 0.00 Net Operating Income 49626.00 New Construction YN No New Taxes Expense 9074.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Number Of Units Leased 0 Number Wall AC 0 Number With Carpet 0 Number With Dishwasher 2 Number With Disposal 2 Number With Drapes 0 Number With Patio 2 Number With Range 0 Number With Refrigerator 0 Operating Expense 11574.00 Operating Expense Percent 18.90 Personal Property Amount 0 Personal Property Percent 0.00 Pest Control Expense 0.00 Pool Expense 0.00 Present Loans 520000 Professional Management Expense 0.00 Property Condition TurnkeyUpdated/Remodeled Property Sub Type Duplex Rent Control YN Yes Security Expense 0.00 Senior Community YN No Sewer Public SewerUnknown Special Listing Conditions Standard Supplies Expense 0.00 Tenant Pays Cable TvElectricityExterior MaintenanceGrounds CareGasHvac MaintenanceRepairsRoofSecurityTelephone Total Actual Rent 5100.00 Total Expenses 11574.00 Trash Expense 420.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 0 Vacancy Allowance Rate 0.00 Water Sewer Expense 780.00 Water Source Public Workmans Compensation Expense 0.00 Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Alexander Romero of Remax Masters and Jesse Colon of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-26T23:25:46.507. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

     
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    La Jolla CA, 92037